Topics in Auditing

MRR445 Topics in Auditing

Spring 2019

Autumn 2019
  • Topics

    • Professional judgments
    • Materiality
    • Accounting estimates and audit reporting
    • Audit evidence
    • Fraud auditing
    • Analytical auditing
    • Going concern/bankruptcy
    • Future changes in auditing
    • Professional skepticism
    • Use of specialists (experts) in the audit process
    • While-collar criminal behavior
    • Corruption and anti-corruption measures
    • Audit of group financial statements
    • Audit of related party transactions

  • Learning outcome

    Knowledge and skills - upon successful completion the student

    • Know the components of and threats to good professional judgment and be able to apply good professional judgment in audits
    • Know the significance of accounting estimates and audit reporting and be able to apply this knowledge in an audit
    • Know how to apply materiality to all phases of the audit
    • Know the nature of and how financial statement assertions, audit evidential matter, and audit evidence are conceptually related and be able to apply this knowledge in an audit
    • Know the professional obligations relating to fraud detection, required fraud procedures, and application of fraud detection models
    • Know the professional requirements for using analytical auditing, have the ability to use different analytical models, and know research on the most effective analytical audit practice approaches
    • Know how to predict going concern problems, the nature and implications of going concern audit reports, and institutional issues which affect going concern disclosure rates and be able to apply this knowledge in an audit
    • Understand and be able to discuss possible future changes in auditing which may affect both individual auditors and the audit industry, such as continuous monitoring, outsourcing, assurance services expansion into social and environmental auditing, and regulatory oversight
    • Know why specialists (experts) are needed, how they are used and be able to discuss new research related to how they interact with the audit team and auditees
    • Have a solid understanding of how the audit standards define and understand professional skepticism, the academic debate about what professional skepticism is and different measures to assess professional skepticism
    • Understand the current empirical knowledge about who commits accounting fraud and misappropriates assets, and the criminals¿ reasons for doing so, as well as the most cited theories to explain such criminal behavior. Be able to reflect how this relates to the audit process and auditors' ability to detect such crimes.
    • Understand the causes and consequences of corruption, how anti-corruption measures may reduce the risk of corruption, and the auditor's role in fighting corruption
    • Know the special considerations that apply to group audits, including those that involve component auditors and be able to apply this knowledge in a group audit
    • Know the auditor's responsibilities regarding related party relationships and auditing of related parties transactions and be able to apply this knowledge in an audit

    General competence - upon successful completion the student

    • Have general professional practice competence through in-depth understanding of audit theory, audit concepts, and current challenging auditing issues
    • Is able to communicate with both specialist and non-specialists about the topics covered in the course

  • Teaching

    The course covers research and professional literature as well as problems/cases. There is a substantial amount of reading. It is expected that you are prepared to each class (i.e., you have read the material in advance). In a graduate course, it is desirable to have significant instructor/student discussions. Student preparation for and participation in discussions of problems/cases are an important part of the learning process.

    The course is taught intensively over 2 weeks, supplemented with additional separate lectures.

  • Recommended prerequisites

    Auditing knowledge similar to MRR411 Revisjon (auditing). MRR 411 covers chapters 1-6, 8-11, 13 and 17-18 of Auditing & Assurance Services Third International Edition, Eilifsen, Messier Jr., Glover and Prawitt, 2014.

  • Required prerequisites


  • Credit reduction due to overlap

    This course covers in-depth topics discussed in MRR411 Auditing I.

  • Requirements for course approval

    Presence and participation in student presentations, case discussions and problems are required.

  • Assessment

    Termpaper delivered in groups of 2-4 participants (60% of final grade) and two hour multiple choice/short answers exam (40% of final grade).

  • Grading Scale

    Grading A - F

  • Computer tools


  • Literature

    Research articles, professional articles, and audit cases posted on Canvas. The lectures and classes are considered part of the curriculum.


ECTS Credits
Teaching language
 English and Norwegian

Autumn. Offered autumn 2019.

Course responsible

Course reponsible: Kyrre Kjellevold, PhD Research Scholar, Department of Accounting, Auditing and Law

Other lecturers:

Thomas E. McKee, Professor, Medical University of South Carolina, Professor II Department of Accounting, Auditing and Law, CPA

William F. Messier Jr., Professor II, Department of Accounting, Auditing and Law, CPA

Tina Søreide, Professor, Department of Accounting, Auditing and Law

Terje Tvedt, partner og fagansvarlig BDO, statsautorisert revisor